Table 5.
Financial Vulnerability Estimation Determinants (Cross-Section). This table shows determinants estimation of financial vulnerabilities using SNRT 2017 using 29 determinants which is divide to subjective measures and objective measure. To note, M.E.: Marginal Effect, S.E: Standard Error and Significance level ∗∗∗p < 0.01, ∗∗p < 0.05, ∗p < 0.1.
| Dependent Variable: Financial Vulnerability Index |
Subjective Measures |
Objective Measures |
||
|---|---|---|---|---|
| M.E. | S.E | M.E. | S.E | |
| Debt to Income Ratio | 0.001 | (0.001) | 0.000∗∗ | (0.001) |
| Consumption Credit to Total Credit Ratio | 0.004∗∗∗ | (0.001) | 0.004∗∗∗ | (0.001) |
| Household Income (Log) | −0.790∗∗∗ | (0.047) | −1.180∗∗∗ | (0.047) |
| Land Price (Log) | 0.030 | (0.019) | −0.020 | (0.020) |
| Bank Savings Dummy | −0.570∗∗∗ | (0.089) | −0.770∗∗∗ | (0.080) |
| Home/Land ownership Dummy | −0.530∗∗∗ | (0.122) | −0.130 | (0.114) |
| Home Ownership Dummy | −0.830∗∗∗ | (0.079) | −0.440∗∗∗ | (0.075) |
| Age of Head of Household | −0.010∗∗∗ | (0.003) | 0.004 | (0.003) |
| Household Size (household budget) | 0.094∗∗∗ | (0.020) | 0.157∗∗∗ | (0.020) |
| Financial Assistance Recipient | 0.180∗∗∗ | (0.068) | 0.215∗∗∗ | (0.068) |
| Overseas Remittance Recipient | −0.100 | (0.207) | 0.190 | (0.235) |
| Average savings account per household | −0.460∗∗∗ | (0.118) | −0.450∗∗∗ | (0.079) |
| Dummy Variable for Coping Strategies (base: savings withdrawal) | ||||
| Minimizing Expenditure | 0.626∗∗∗ | (0.084) | 0.360∗∗∗ | (0.085) |
| Selling goods | 0.398∗∗∗ | (0.107) | 0.301∗∗∗ | (0.109) |
| Work longer | 0.892∗∗∗ | (0.149) | 0.182 | (0.153) |
| Extra work | 0.568∗∗∗ | (0.133) | 0.394∗∗∗ | (0.132) |
| Borrow food from neighbor/friend | 1.306∗∗∗ | (0.104) | 0.464∗∗∗ | (0.100) |
| Borrow from employer | 0.995∗∗∗ | (0.269) | 0.535∗∗ | (0.235) |
| Pawn of goods | 0.462∗∗ | (0.211) | 0.462∗∗ | (0.217) |
| Borrow from traditional microfinance (Arisan) | 1.383∗∗∗ | (0.347) | 0.938∗∗∗ | (0.300) |
| Home Equity Loan | 1.667∗∗∗ | (0.447) | 0.305 | (0.871) |
| Loan Takeover | 1.793∗∗∗ | (0.261) | −0.370 | (1.214) |
| Credit Card | 0.296 | (0.187) | 0.907∗∗∗ | (0.165) |
| Bank Loans | 0.089 | (0.225) | 0.708∗∗∗ | (0.197) |
| Loan from employers | 1.153∗∗∗ | (0.444) | 0.679∗∗ | (0.291) |
| Informal loan/loan shark | 1.689 | (1.232) | 0.130 | (0.635) |
| Unpaid Claims | 3.317∗∗∗ | (0.467) | 1.125∗ | (0.683) |
| IKNB Loans | −0.480 | (0.951) | −0.020 | (0.768) |
| Others | 1.474∗∗∗ | (0.433) | 0.207 | (0.332) |
| Control Variable: | ||||
| Province Dummy | Yes | Yes | ||
| Area Dummy (City-Village) | Yes | Yes | ||
| Total Observation | 3671 | 3671 | ||